Supporting employees’ financial wellbeing: a toolkit for employers

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For a confident, healthy and productive workforce, financial wellbeing is essential, not just a nice-to-have. When employees feel secure about their money, they’re more focused, less stressed, and better equipped to handle life’s ups and downs.  Yet, according to the Standard Life Retirement Voice 2025 report, for which we asked 6,000 UK adults how they feel about their finances, worries are widespread and many feel uncertain about their future. 

The good news is that, as an employer, you’re in a unique position to make a real difference. Below, we’ll show you how you can create a practical toolkit to support your employees’ financial confidence and wellbeing.

Step 1 – Make financial education simple and accessible

Knowledge is power, but right now, many employees feel ill-equipped when it comes to making financial choices. Retirement Voice 2025 reveals that less than half (45%) of the people surveyed feel positive about their current financial situation. Most people also expect retirement to be more complicated than ever, with 73% believing that retirement in the future will be more complex than it is now. Add to that a world that feels increasingly unpredictable (83% say it feels more uncertain than it did a few years ago) and it’s clear why confidence is low. 
 
One way employers can help is by making financial education easy to access and to understand. Short videos, quick guides and interactive webinars can go a long way towards building confidence. Signposting to trusted sources like MoneyHelper or the Money and Pensions Service adds credibility. For Standard Life workplace pension members, tools such as Money Mindset* offer practical tips and videos that employees can explore at their own pace, helping them feel more informed without being overwhelmed. Knowledge alone isn’t enough, though. To be able to turn that understanding into action, employees also need practical tools, and that’s where planning comes in.

Step 2 – Give employees tools to plan and stay in control

Planning really does make a difference. The report shows a clear link between planning and feeling financially positive. People who’ve done a great deal of planning are much more likely to feel comfortable with their current finances and optimistic about the future – and even a little planning helps. 

Employers can make planning easier by giving access to digital tools that help employees take control. Budget planners, spending insights and emergency fund calculators can all reduce stress and boost confidence. Even small steps – like showing employees how to track their spending – can make a big difference. 
 
Through Money Mindset, members of a Standard Life workplace pension scheme can access a spending insights tool, which allows employees to see where their money is going, as well as a budget planner, which can help them save in line with their goals.

Step 3 – Offer support for life’s big financial moments

Life changes can throw even the best-laid plans off course. Buying a home, starting a family, or caring for relatives often comes with financial strain – and with one in four people (24%) saying they’re finding it difficult to manage on their current income, it’s clear that extra support matters. 

Employers can help by offering tailored guidance and signposting to relevant resources. For example, employees who are members of a Standard Life workplace pension scheme can access the Homebuyer Hub.  This tool provides employees with tailored guidance, coaching, and tools to help them at every step, from saving for a deposit to understanding stamp duty. 

You can also offer retirement planning tools or provide access to financial coaching to give employees reassurance when they need it most. Creating a culture where it’s okay to talk about money is also key – normalising these conversations can make employees feel supported rather than isolated.

 

Why financial wellbeing should be on every employer’s agenda

Financial wellbeing isn’t just about money – it’s about confidence, security, and peace of mind. When employees feel supported, they’re more productive, more engaged, and better equipped to handle life’s challenges. Start with small steps today and you’ll build a workplace culture that benefits both your people and your business. 

 

* Money Mindset is provided in partnership with MoneyHub Financial Technology Limited 

www.standardlife.co.uk    

Phoenix Life Limited, trading as Standard Life, is registered in England and Wales (1016269) at 10 Brindleyplace, Birmingham, B1 2JB. 

Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.